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2022 | Economics of Sustainability | 342--368
Tytuł artykułu

Circular Economy

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The circular economy is an alternative economic model for exchange and production that seeks to decouple economic growth from material dependency. It is a sustainable development strategy that is being proposed to tackle the problems of environmental degradation and weaken the dependence of economy on natural resources and environment. Through embedding the 3R principles of materials use - Reduce, Reuse and Recycling - into production and consumption process, the Circular Economy aims at greater resource productivity, higher energy savings and lower greenhouse gasses emission. A variety of approaches that encourage the transition to a circular economy exist, and generally they are categorized in three main groups: Circular Innovation Models, Circular Use models and Circular Output Models. However, adoption of only one of the circular business models does not necessarily ensure a circular business. In order to achieve circularity, these models have to be implemented jointly across the supply chain. Collaboration among the designers, the suppliers, the service providers and end-of-life companies must exist so that information about the material and energy resources is shared. The transition to circularity involves a complete systematic change comprising innovation in technological and organizational terms too. By helping to decouple economic growth from resource use the transformation to circular economy offers a prospect of sustainable growth that will last. Having a harmonized, measurable, relevant and diagnostic indicators which will meet the needs of all is a necessary prerequisite for successful evaluation of the progress towards circular economy. The circular economy indicators used for evaluation of the transition to circular economy are developed in three different levels: micro-, meso- and macro-level and are based on several metrics: economic output, per capita figures, as input and output indicators or as consumption indicators. As the resource efficiency, material flows and waste reduction are central in the circular economy, the focus within this Subchapter is put on the material flow analysis and resource efficiency indicators. (original abstract)
Twórcy
  • Integrated Business Faculty, Skopje, North Macedonia
  • Integrated Business Faculty, Skopje, North Macedonia
  • Integrated Business Faculty, Skopje, North Macedonia
Bibliografia
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Typ dokumentu
Bibliografia
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Identyfikator YADDA
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